What is growth hacking?
Posted: Tue Dec 24, 2024 8:47 am
So, what is Growth Hacking? At first glance, it may seem like a big deal. After all, if you barely understand what it means in Portuguese, imagine what it means in English. But know that the market for hackers is one of the most promising and, by the end of this article, you will know why.
Let's start with the name. If we translate it literally, Growth means growth . But what about Hacking? Many people think of computers, after all, everyone has heard of hackers. However, this word, in our context, has a different meaning. Just as hackers look for breaches in a system, Hacking, in this context, looks for breaches in growth . Be it personal or corporate.
Now that we’ve cleared up this doubt, let’s learn a little job seekers database more about this incredible tool called Growth Hacking.
Characteristics of a Growth Hacker
One of the most recognized Growth Hackers in the market, Jana Ramos, believes that the main function of a Growth Hacker is to solve problems . To do this, the individual must have some characteristics, such as:
– Problem-finding mindset
– Hypothesis testing mindset
– Mindset of documenting experiments
– Conviction to follow what you believe in
– And of course, courage to overturn guidelines
Keep in mind that nothing is perfect, even successful companies have problems. That's where Growth Hacking comes in. However, unlike other professionals, it has other qualities that make this process of finding and solving problems faster and more effective .
After finding the problems, the Growth Hacker thinks of possible solutions to this conflict. And, more than that, he tests all these hypotheses. It is at these times that many clients are hesitant. However, with the conviction of following what he believes in, and following the famous “rules” or guidelines , the Growth Hacker, through tests and experiments , documents the entire growth process and, if there is no result, he continues until he finds an answer.
Read also: 6 Tips to Increase Organic Instagram Traffic
In theory it seems a bit difficult to understand, so let's get down to practice. Those who work in the communications field know about the famous Marketing Funnels. However, we will bring something a little different, what we call the Pirate Funnel .
The Pirate Funnel
The funnel is composed as follows:
For each step to be successful, the previous one must also be successful. Let's go step by step:
Acquisition is how users found you. Was it by email? Google? Event? Recommendation? There are many ways to acquire users .
Once users discover you, it’s time for them to be activated . But how do you do that? Think about it. You discover a restaurant through an ad on TV. You go to that restaurant and you get great service. Not only that, but the food is also very good. And just like that, you’ve already been activated twice. In other words, activation is nothing more than the user’s first experience. If it’s bad, you’ll lose them, but if it’s good… Well, that’s what the next topic is for: Retention .
The user discovered your website, had a great experience, now it’s time to capture their attention, so that they always visit or come back to you. The longer they stay with you, the more profit you generate. And speaking of profit, it’s time for Revenue, “How do you make money?” .
There are several ways, but two models are very well used: Upsells and Crossells . Don't worry, I'll explain each one of them. Let's use Spotify as an example. Spotify is one of the most famous apps in the world and the most widely used music streaming service. It's free, but if you buy the Premium plan, you'll still have all the benefits of the free plan, and you won't hear any ads. This change in plan is the Upsell. You convinced your customer to buy and upgrade their plan just to get one benefit: not hearing any ads .
Read also: Self-management: What is it, benefits and how to encourage it?
But what about Crossell? You, like me, are constant victims of Crossell, also known as the famous tied sale . How many times have we found ourselves buying books on Amazon and they told you “Look, if you buy over R$100, you get free shipping!” Or that famous double draft beer deal, buy one get one free. Crossell is exactly that, and it is a great strategy to generate revenue.
Finally, the famous recommendation . If you've read this far, had a good experience and learned something, the chances of you recommending this site are high. And, just like your company's user or client, if they went through all these steps and were satisfied in the end, they will definitely recommend your service/product. Not only have you kept a customer, you've gained another one completely free of charge.
More than a Marketing Tool
Growth Hacking, however, goes beyond the growth of a company. The same principles can also be applied to your personal life . If we consider that everyone we know is a potential “user” of a website, interacting with them and maintaining their friendship can be of great benefit, not only in life, but also in the workplace, further increasing your network.
Let's start with the name. If we translate it literally, Growth means growth . But what about Hacking? Many people think of computers, after all, everyone has heard of hackers. However, this word, in our context, has a different meaning. Just as hackers look for breaches in a system, Hacking, in this context, looks for breaches in growth . Be it personal or corporate.
Now that we’ve cleared up this doubt, let’s learn a little job seekers database more about this incredible tool called Growth Hacking.
Characteristics of a Growth Hacker
One of the most recognized Growth Hackers in the market, Jana Ramos, believes that the main function of a Growth Hacker is to solve problems . To do this, the individual must have some characteristics, such as:
– Problem-finding mindset
– Hypothesis testing mindset
– Mindset of documenting experiments
– Conviction to follow what you believe in
– And of course, courage to overturn guidelines
Keep in mind that nothing is perfect, even successful companies have problems. That's where Growth Hacking comes in. However, unlike other professionals, it has other qualities that make this process of finding and solving problems faster and more effective .
After finding the problems, the Growth Hacker thinks of possible solutions to this conflict. And, more than that, he tests all these hypotheses. It is at these times that many clients are hesitant. However, with the conviction of following what he believes in, and following the famous “rules” or guidelines , the Growth Hacker, through tests and experiments , documents the entire growth process and, if there is no result, he continues until he finds an answer.
Read also: 6 Tips to Increase Organic Instagram Traffic
In theory it seems a bit difficult to understand, so let's get down to practice. Those who work in the communications field know about the famous Marketing Funnels. However, we will bring something a little different, what we call the Pirate Funnel .
The Pirate Funnel
The funnel is composed as follows:
For each step to be successful, the previous one must also be successful. Let's go step by step:
Acquisition is how users found you. Was it by email? Google? Event? Recommendation? There are many ways to acquire users .
Once users discover you, it’s time for them to be activated . But how do you do that? Think about it. You discover a restaurant through an ad on TV. You go to that restaurant and you get great service. Not only that, but the food is also very good. And just like that, you’ve already been activated twice. In other words, activation is nothing more than the user’s first experience. If it’s bad, you’ll lose them, but if it’s good… Well, that’s what the next topic is for: Retention .
The user discovered your website, had a great experience, now it’s time to capture their attention, so that they always visit or come back to you. The longer they stay with you, the more profit you generate. And speaking of profit, it’s time for Revenue, “How do you make money?” .
There are several ways, but two models are very well used: Upsells and Crossells . Don't worry, I'll explain each one of them. Let's use Spotify as an example. Spotify is one of the most famous apps in the world and the most widely used music streaming service. It's free, but if you buy the Premium plan, you'll still have all the benefits of the free plan, and you won't hear any ads. This change in plan is the Upsell. You convinced your customer to buy and upgrade their plan just to get one benefit: not hearing any ads .
Read also: Self-management: What is it, benefits and how to encourage it?
But what about Crossell? You, like me, are constant victims of Crossell, also known as the famous tied sale . How many times have we found ourselves buying books on Amazon and they told you “Look, if you buy over R$100, you get free shipping!” Or that famous double draft beer deal, buy one get one free. Crossell is exactly that, and it is a great strategy to generate revenue.
Finally, the famous recommendation . If you've read this far, had a good experience and learned something, the chances of you recommending this site are high. And, just like your company's user or client, if they went through all these steps and were satisfied in the end, they will definitely recommend your service/product. Not only have you kept a customer, you've gained another one completely free of charge.
More than a Marketing Tool
Growth Hacking, however, goes beyond the growth of a company. The same principles can also be applied to your personal life . If we consider that everyone we know is a potential “user” of a website, interacting with them and maintaining their friendship can be of great benefit, not only in life, but also in the workplace, further increasing your network.